The property comprised four, two-level commercial buildings constructed between 1994 and 1998 with 8,921 m2 NLA. The properties were on four separate titles.
The investment strategy identified at purchase highlighted the opportunity to re-lease vacancies and commence a sell down of each building when the releasing of each building is complete.
Investment Outcome: A 2 year investment horizon with the majority of equity paid back from the sale of the first two buildings.
Purchase Price / Date
$17.3m / Dec 2009
Selling Price / Date
$23.0m / Nov 2011
Investor IRR Post Fees
49.00% per annum